Silver (XAG/USD) prices continued their uptrend for the third straight session, trading around $29.70 during the Asian trading hours on Tuesday. Prices of precious metals like Silver are likely to be supported by light trading activity ahead of the Christmas holiday. Additionally, weak US PCE data has eased inflation concerns, presenting a mixed economic outlook, which benefits non-yielding assets like Silver. However, Silver prices may come under downward pressure as traders continue to assess the Federal Reserve's (Fed) outlook for 2025, pricing in just two interest rate cuts in 2025...
The Japanese yen (JPY) halted the previous day's decline against its US counterpart, although it lacked bullish conviction and remained close to the multi-month lows hit last week. The Bank of Japan's (BOJ) cautious stance on further interest rate hikes, coupled with the Federal Reserve's (Fed) hawkish policy shift, dampened expectations of a sharp narrowing in the US-Japan interest rate differential. This, along with a generally positive risk tone, continued to act as a headwind for the JPY. Meanwhile, a potential BOJ rate hike in January or March remains on the table following the...
Gold prices extended its steady uptrend in the Asian session and climbed to fresh intraday tops, around the $2,620 region in the last hour. Against the backdrop of persistent geopolitical risks and fears of a trade war, a modest pullback in the US Treasury bond yields provided some support to the commodity. However, any meaningful appreciating move for XAU/USD seems elusive in the wake of the Federal Reserve's (Fed) shift in its aggressive stance. In fact, the Fed last week hinted at slowing the pace of interest rate cuts in 2025. This helped the US Dollar (USD) to hold firm near two-year...